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1. You will be required to prepare a short power point presentation ( no more than 5 minutes) identifying your key last quarter Budget assumptions, key Income Statement variances and give explanations...

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1. You will be required to prepare a short power point presentation ( no more than 5 minutes) identifying your key last quarter Budget assumptions, key Income Statement variances and give explanations for the possible causes of the variation and potential action to ensure this does / does not happen again for the future.

Answered 66 days AfterOct 22, 2017

Solution

David answered on Dec 27 2017
27 Votes
Budget & Income Statement
By: Sarah
Budget & Income Statement
Last Quarter Budget Assumptions
Accounting and Audit Fees to be payable in June
Legal fees to be paid in June
Increase in advertising spend
There has been increased inflation in the economy due to which the cost of administration and general expenses has seen an increase of 44.91%. Although this variance is not favorable for business, but the business has been doing all efforts to cut down costs to the maximum possible.
Income Statement Variances
Car Rental Commission seen a jump of 21% which is favorable for business. The major reason for this was increase in local tourism due to increased promotions by government agencies.
Cruise Commission saw a hike of 5.52%...
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